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According to analysts at Rabobank, market participants will look out for European data today.

Key Quotes

“PMI surveys for several big Eurozone member states as well as the region as a whole should shed more light on the question whether last month’s (slight) pickup in (overall) activity was simply a pause, or whether indeed the growth slowdown is finally coming to a halt.”

“Bearing in mind the recent weakness in order data against the backdrop of rising trade tensions, a further deterioration in the PMI survey (most notably in manufacturing) would surely raise concerns that the accelerating trade war between the US and China is also hurting European firms. The consensus is for “no change” (more or less).”